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Oct 13, 2013
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whether or not we raise a debt ceiling. you have a proposal to raise it for six weeks, a proposal to raise it to the end of january, and you have a third one where it takes it to the end of the year. second, you have a group that wants to push it out to the end of january and another group wants to push it out for a few months later. when we look back we're going to wonder how on earth could the president and others not come to some agreement when you have plausible, attainable kind of goals in front of us. two, the economy is ready to take off. you saw last week the market exploded. the biggest single gain the day of the year once it looked like a deal was within reach. last week reports demonstrated that america is now the number one producer in the world, about to take russia in natural gas and petroleum products, which means higher paying jobs. americans want to work. they want to get beyond this moment. it seems for those who are outside of this, and i'm not as close to washington as i was before, a deal is within reac
whether or not we raise a debt ceiling. you have a proposal to raise it for six weeks, a proposal to raise it to the end of january, and you have a third one where it takes it to the end of the year. second, you have a group that wants to push it out to the end of january and another group wants to push it out for a few months later. when we look back we're going to wonder how on earth could the president and others not come to some agreement when you have plausible, attainable kind of goals in...
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Oct 18, 2013
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finally another debt ceiling the month after that. expect this fight against obama to barrel all the way until 2016. for his enemies, the demolition of this president remains their most exciting quest. they call it the cause. its battle flag is the stars and bars. the notion somehow those who back cruz and lee are the real americans. to take it back from the other. minorities and liberals and others who to them constitute the enemy. be warned. with every fresh defeat, this crowd becomes more frustrated and angry. this made the they who are the true superamericans assume their votes should count more than those lesser folk they think are lesser who voted for the president. how else do you describe a group that was outnumbered at the polls that call themselves the american people. joining me howard fineman and jonathan capehart. both are msnbc political analysts. but first tonight, gentlemen, a little comic relief following more than two weeks of dysfunction. in a comparison pointed out by john pedorits, he called it the animal house sh
finally another debt ceiling the month after that. expect this fight against obama to barrel all the way until 2016. for his enemies, the demolition of this president remains their most exciting quest. they call it the cause. its battle flag is the stars and bars. the notion somehow those who back cruz and lee are the real americans. to take it back from the other. minorities and liberals and others who to them constitute the enemy. be warned. with every fresh defeat, this crowd becomes more...
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Oct 9, 2013
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we don't have a lot of time so i want to get to the debt ceiling and the default. we're getting clamoring from a bunch of people that may be defaulting wouldn't be such a bad thing. now, just tell me from the perspective of wall street and the people you talk to, is that silly talk? >> no. sadly, there is now real talk that we could default or at least we could go over what is this deadline on october 17th. and perversely, the more the market doesn't react. so the more you don't see the market cratering, and it was down yesterday, but the more it doesn't go into a complete tailspin, the less pressure there is going to be on washington and congresspeople to actually pass something. and therefore the greater chance, oddly enough, that we don't. and actually that we create a real crisis. >> andrew, are there smart people actually saying a default wouldn't be that big a deal? >> there are people like that. stan druckenmiller is one. there are people who believe this needs to be used as a bargaining chip. i don't think there's anyone who truly believes that it is okay,
we don't have a lot of time so i want to get to the debt ceiling and the default. we're getting clamoring from a bunch of people that may be defaulting wouldn't be such a bad thing. now, just tell me from the perspective of wall street and the people you talk to, is that silly talk? >> no. sadly, there is now real talk that we could default or at least we could go over what is this deadline on october 17th. and perversely, the more the market doesn't react. so the more you don't see the...
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Jan 15, 2013
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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Oct 4, 2013
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debt ceiling breach? >> yeah. >> if these reports are right, actually there's a possibility makes a shutdown last longer because in other words it may be the strategy of boehner to say we take the more catastrophic one off the table by giving them a debt ceiling increase. >> but i don't -- >> can i ask you one question bothering me. i think he said they can't prioritize payments on the debt. the actual payments -- >> they're going to want to show people the choices that the treasury has here. there's two ways to deal with a debt ceiling breach. i want to show you basically what is believed here. you prioritize, you make choices to pay some bills and not others. the payment system is not programmed to do that and there's no legal base. the other way to do it is day-to-day. which is you could wait until you got enough money in the bank and then you make the payments and the problem is you start to delay payments. >> you've done all this work. i don't like life insurance either. i don't want to pay off on li
debt ceiling breach? >> yeah. >> if these reports are right, actually there's a possibility makes a shutdown last longer because in other words it may be the strategy of boehner to say we take the more catastrophic one off the table by giving them a debt ceiling increase. >> but i don't -- >> can i ask you one question bothering me. i think he said they can't prioritize payments on the debt. the actual payments -- >> they're going to want to show people the choices...
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Oct 4, 2013
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people are still going to be buying coca- cola,debt ceiling or no debt ceiling." "if you think maybe there will be a little bit of a sell-off because of the debt ceiling debate, i think that's an opportunity, that if happens, maybe you're in an equity, a balanced portfolio and you get to rebalance off-cycle. maybe if you're adding cash, you take that opportunity to add. but regardless of the political dysfunction, we know one thing: at some point, it resolves itself." "we do believe some markets have some challenges, especially in emerging markets, we have seen, there is some sort of outflow that just happened, but the pensions that we are working with are thinking about more long-term growth prospects." until a resolution comes out of washington , money managers tell us for the most part they are using conservative investing strategies. the labor department's monthly unemployment report is not being released during the government shutdown. despite that, there are indications that job growth continues but the shutdown may affect hiring at the top in the private se
people are still going to be buying coca- cola,debt ceiling or no debt ceiling." "if you think maybe there will be a little bit of a sell-off because of the debt ceiling debate, i think that's an opportunity, that if happens, maybe you're in an equity, a balanced portfolio and you get to rebalance off-cycle. maybe if you're adding cash, you take that opportunity to add. but regardless of the political dysfunction, we know one thing: at some point, it resolves itself." "we do...
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Jan 11, 2013
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the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget controls and i would argue a constitutional debt as a percentage of the economy limit. >> saying you could never go beyond -- >> that's right. >> what percent would that be? >> 120% of gdp, 100%. public debt we're about 75. total debt we're over 100 already. so depends on how you want to count it. let's recognize what it is. on the other hand, spending is a huge problem. we're going to have to reform social insurance programs. we're going to have to do a better job of controlling health care costs. we're going to have to engage in comprehensive tax reform. yes, we're go
the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget...
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Jan 31, 2013
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the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlook. >> everything you said was so good until you gout to that point. >> he usually wears one of these very clever ties. >> i'm not going to give him any -- >> there you go, joe. >> you didn't forget because you are getting up there. >> up there? >> close to his age. >> i have to put it out the night before. >> i lay my clothes out the night before, too. >> do you,
the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them....
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Oct 3, 2013
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you're wrong. >> and previous debt ceiling -- in previous debt ceiling increases haven't those in the past been used to extract some type of budget agreements? >> reporter: yes. >> that's all they're saying now. >> reporter: no, no. >> take away obama care because they've started shifting away from obama care? us try to maybe bring up entitlements or something. >> reporter: obama will have that conversation but -- >> not till after. >> reporter: joe, no, no hold on. here's the thing. look, you got to -- think about what is reasonable here. we've had months in which republicans have not been willing to go to conference on the budget. they demanded the senate pass the budget. they did. then they said let's go to conference with the house. the house didn't want to do that. remember, the house kind of -- >> why didn't the house want to do it? >> reporter: if you have a protracted negotiation in the conference and goes on for awhile, there is the possibility that the leadership loses control of the floor. if the conference goes on for a certain period of time without resolution, then anyth
you're wrong. >> and previous debt ceiling -- in previous debt ceiling increases haven't those in the past been used to extract some type of budget agreements? >> reporter: yes. >> that's all they're saying now. >> reporter: no, no. >> take away obama care because they've started shifting away from obama care? us try to maybe bring up entitlements or something. >> reporter: obama will have that conversation but -- >> not till after. >> reporter:...
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Oct 11, 2013
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of the debt ceiling and remove the ability for people to use the debt ceiling to take us hostage by using what mitch mcconnell proposed to get us out of the 2011 debt ceiling crisis and what he did and what's being called the mcconnell rule. he allowed the president to unilaterally raise the debt ceiling and congress can vote to disapprove. if the president wants the debt ceiling to be raised, he has to veto that measure and it could be overridden by two thirds of both houses. is there any sort of talk or discussion of some way of actually taking away this debt ceiling threat for the longer term? >> i think it's a possibility that could be in the cards in the larger budget discussion that you'd end up having between republicans and democrats trying to craft something after a temporarily debt ceiling increase, a temporary extension of the u.s. government. but krystal, i don't think we know how long the debt ceiling will be increased for. house republicans yesterday were talking about a six-week extension. but it could be longer than that. we just don't know any kind of the details ye
of the debt ceiling and remove the ability for people to use the debt ceiling to take us hostage by using what mitch mcconnell proposed to get us out of the 2011 debt ceiling crisis and what he did and what's being called the mcconnell rule. he allowed the president to unilaterally raise the debt ceiling and congress can vote to disapprove. if the president wants the debt ceiling to be raised, he has to veto that measure and it could be overridden by two thirds of both houses. is there any sort...
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Oct 10, 2013
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service since 1978, congress has voted to raise the debt ceiling 53 times, 27 of those or 51%, the debt limit increase of tied to other reforms. i assume you're aware that more often than not the debt ceiling is raised with other policy or reforms. if you're so aware of that history, why do you and president obama continue to use the talking point that negotiating on a debt limit bill is unprecedented when the facts demonstrate otherwise? >> well, senator, i don't think that is an accurate version of history, certainly not what i recall, having lived through many of the budget debates overs last 39 years. overly three of them have involved the debt limit. it's not the case that most budget agreements involve the debt limit. if you look at those that did involve the debt limit, several of them the dealt limit was just added on to a bill. it was not driving the debate. what i think changed in 2011 is the affirmative case was made in 2011 that a certain faction -- i'm not saying it's people in this room but if a certain faction did not get their way -- that's not how our democratic system
service since 1978, congress has voted to raise the debt ceiling 53 times, 27 of those or 51%, the debt limit increase of tied to other reforms. i assume you're aware that more often than not the debt ceiling is raised with other policy or reforms. if you're so aware of that history, why do you and president obama continue to use the talking point that negotiating on a debt limit bill is unprecedented when the facts demonstrate otherwise? >> well, senator, i don't think that is an...
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Jan 14, 2013
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ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer...
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Oct 2, 2013
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debt ceiling still looming. the treasury department is using the last of four bookkeeping measures to try and keep the government from hitting the debt ceiling. with the extraordinary measures, the go. will hit the spending limit october 17th. we spoke to debt commission co chair bowles about the consequences of the shutdown and not raising the debt ceiling. >> the shutdown is bad, painful, does hurt people, cost the taxpayers real money. it's not catastrophic. we hit this debt ceiling, that's catastrophic. we are the world's reserve currency. it's catastrophic to the u.s. and globally. it's really bad. >> the nation's top bankers meet with president barack obama today at white house. jay monday joins us now. >> reporter: they're going to meet with secretary jack lou. also a meeting with the capitol hill and president barack obama . the meeting is to help save the case not going over the debt ceiling cliff coming. lew sent a let tore capitol hill reaffirming the fact the october 17eadldline is real and a hard de
debt ceiling still looming. the treasury department is using the last of four bookkeeping measures to try and keep the government from hitting the debt ceiling. with the extraordinary measures, the go. will hit the spending limit october 17th. we spoke to debt commission co chair bowles about the consequences of the shutdown and not raising the debt ceiling. >> the shutdown is bad, painful, does hurt people, cost the taxpayers real money. it's not catastrophic. we hit this debt ceiling,...
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Jan 25, 2013
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three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend mon
three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in...
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Sep 26, 2013
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they'll not raise the debt ceiling and the u.s. could default and some programs will be de-funded or that we'll raise the ceiling and go more into debt? i want you to look at the last line. don't know unsure compared to june. people are making up their minds in a bigger way here. and what's happening, they're splitting evenly toward the top answer and bottom answer. plurality says we're more concerned about debt. 47, 41, but both of them went up in equal numbers. >> that 47%, people are more concerned about taking on more debt than raising the debt ceiling. do they understand what happens if we don't raise the debt ceiling? >> we try to ask this in a way that gives you every opportunity to understand the consequences. we say the u.s. will default and some people won't get paid. so we do tug at the heart strings and they still say we're more concerned about the debt. >> and the full faith and credit of the u.s. -- >> you can only go so far in a poll question, but i think we ask it in a fair way. >> how do they get to that answer? >>
they'll not raise the debt ceiling and the u.s. could default and some programs will be de-funded or that we'll raise the ceiling and go more into debt? i want you to look at the last line. don't know unsure compared to june. people are making up their minds in a bigger way here. and what's happening, they're splitting evenly toward the top answer and bottom answer. plurality says we're more concerned about debt. 47, 41, but both of them went up in equal numbers. >> that 47%, people are...
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Jan 17, 2013
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there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another downgrade? >> that's a critical question. that's why the democrats are likely to define default as missing any government payment becaus
there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen,...
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Aug 27, 2013
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>> not on the debt ceiling. there is also the budget. they run out of funding the end of september. they're going to probably combine the two. the decision will be around the funding at the same time. >> what do you think he will say to horowitz today? >> i think his point to go on tv is to say, we got a big problem with the debt ceiling. we got to raise this. >> you can never really separate the posturing from the actual negotiating that's done with trial balloons whachl do you think this will be today? mostly? >> i think he's laying it out there. this will be a big problem. >> do you raise it? >> give or take, late or early november. it depends on revenues, frady di, fannie. >> in the grand negotiation, do you try to leave yourself little wiggle room? don't you say it's early october or middle of october knowing -- >> i think he came out saying late october, early november. >> is it then december? >> i don't think so. it's possible. splitting hair irs. >> about a month ago, treasury said it was going to start
>> not on the debt ceiling. there is also the budget. they run out of funding the end of september. they're going to probably combine the two. the decision will be around the funding at the same time. >> what do you think he will say to horowitz today? >> i think his point to go on tv is to say, we got a big problem with the debt ceiling. we got to raise this. >> you can never really separate the posturing from the actual negotiating that's done with trial balloons...
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Nov 19, 2013
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i mean, the debt ceiling is a different issue. obama care is the central issue. we're going to try to minimize the pain. and over the long-term, we're headed in a different direction with competition, choice and lower prices for people who want to buy insurance. >> okay. senator alexander, thank you for joining us this morn>> thank yo. >> all right. horse is out of the barn. >> train out of the station. >> toothpaste out of the tube. all the king's horses, all the king'sdumpty. >> all the the kings who ares and all the kings' mens. >> jeannie out of the bottle. >> then we can mix them. like the horse has left the station. like wake up and smell the roses. you cannot get toothpaste back in a tube. i know that, right? >> i have in fact. and failed. >> coming up, jim cramer's getting ready for the trading day ahead. we'll get his thoughts on best buy, home depot and this morning's big mover. >> you thought earnings season was over? think again. tomorrow we get quarterly numbers from lowe's, jcpenney, deere and more all before the opening bell. thrusters at 30%! i ca
i mean, the debt ceiling is a different issue. obama care is the central issue. we're going to try to minimize the pain. and over the long-term, we're headed in a different direction with competition, choice and lower prices for people who want to buy insurance. >> okay. senator alexander, thank you for joining us this morn>> thank yo. >> all right. horse is out of the barn. >> train out of the station. >> toothpaste out of the tube. all the king's horses, all the...
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Jan 6, 2013
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can you get a deal on the debt ceiling? can you raise that debt ceiling without agreeing to some spending cuts? >> well, i think we're going to need both. what the president has said is we need some balance here. from this point forward -- >> excuse me, but what the president said, he's not going to deal, he's not going to negotiate. he just wants you to raise it. is that going to happen? >> let me add one thing. i think in the course of the state of the union address, and the president has already said, we're going to be talking about further deficit reduction, but it has to be done in a balanced way. at the heart of this debt ceiling debates is whether or not we're going to continue to reduce the deficit. i think we need to do it in a thoughtful way. and the president said as long as it's balanced he's open to the conversation. >> okay. so i'm confused because i've heard him say multiple times i am not going to negotiate over raising this debt ceiling. so are you going to negotiate? >> i can just tell you this. the debt c
can you get a deal on the debt ceiling? can you raise that debt ceiling without agreeing to some spending cuts? >> well, i think we're going to need both. what the president has said is we need some balance here. from this point forward -- >> excuse me, but what the president said, he's not going to deal, he's not going to negotiate. he just wants you to raise it. is that going to happen? >> let me add one thing. i think in the course of the state of the union address, and the...
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Jan 4, 2013
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debt ceiling. >> what they also couldn't say is once we get to a bad june and the risk that washington, d.c. will destroy the economy drop, maybe we don't have to be so aggressive. but they can't admit that the roept they buy it this way is because they have -- but these minutes were before the fiscal cliff. >> i think the fed was so easy in part because -- >> oh, we should feel so good about what they came up with. no spending cuts and a just a big tax increase. gosh, they did such a great job. can you imagine the guy that will take a victory lap for not addressing our spending problems one iota? obama, how can you say you won and, gosh, be smiling and patting yourself on the back. >> because he defined the problem as not having enough tax revenue. but now we can see right after they do the cliff, we have s&p, moody's, the imf coming out and saying, this doesn't come close. the problem all along has been spending. t the republicans got the right issue and the wrong chart. >> the chart yesterday sh
debt ceiling. >> what they also couldn't say is once we get to a bad june and the risk that washington, d.c. will destroy the economy drop, maybe we don't have to be so aggressive. but they can't admit that the roept they buy it this way is because they have -- but these minutes were before the fiscal cliff. >> i think the fed was so easy in part because -- >> oh, we should feel so good about what they came up with. no spending cuts and a just a big tax increase. gosh, they...
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Feb 26, 2013
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ceiling, debt limit. you know, we've got several big bumps in the road coming up. and maybe your point on fatigue of the policy to date finally just says, you know, enough. or they say -- >> you speak italian? >> i do. >> wow. ♪ >> you watch your favorite movie of all time? you think that it portrays italians in a negative way? >> well, i would choose one of the near-realistic films from italy itself. i wouldn't choose one of the mafia movies. >> [ inaudible ] >> i can't do that. >> andrew thinks we're talking about the deficit right now. that's the thing. g-4, g-3s, right? >> talking about good fellas. >> all right. >> anyway, so it's a good day for to talk sequester and italy, i think. and bring it home. we're going to talk more about that as we go on. >> italy needs a sequester. >> maybe italy needs a sequester. >> maybe we need a guy like berlusconi. we had one. right? we had one. let's bring him -- maybe we'll elect his wife. anyway these two guys will be with us for the rest of the hour. we are wa
ceiling, debt limit. you know, we've got several big bumps in the road coming up. and maybe your point on fatigue of the policy to date finally just says, you know, enough. or they say -- >> you speak italian? >> i do. >> wow. ♪ >> you watch your favorite movie of all time? you think that it portrays italians in a negative way? >> well, i would choose one of the near-realistic films from italy itself. i wouldn't choose one of the mafia movies. >> [...
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Sep 24, 2013
09/13
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what happens if we don't raise the debt ceiling? >> well, we saw a little bit about what happened with that 780 days ago i think today. and that's -- you lose your aaa bond rating. that's what happened last time. markets will react. there will be -- there'll be repercussions that our economy right now doesn't need, doesn't deserve. at a time when it's just trying to get back on its feet. so, you know, i think that's really what's hanging in the balance here. the politicians in washington are, you know doing this for their own personal or political or ideological gain. what's hanging in the balance we saw a little bit about 780 days ago. >> in other words, we don't want to go down this road again. >> we really don't. we can't afford to. we're at a point where -- we're at a positive tipping point. you had that discussion where you could get back to growth, you could get back to creating jobs, you could get back to economic development creating small businesses, all sorts of things. we're on that verge, but we can't do that if there's
what happens if we don't raise the debt ceiling? >> well, we saw a little bit about what happened with that 780 days ago i think today. and that's -- you lose your aaa bond rating. that's what happened last time. markets will react. there will be -- there'll be repercussions that our economy right now doesn't need, doesn't deserve. at a time when it's just trying to get back on its feet. so, you know, i think that's really what's hanging in the balance here. the politicians in washington...
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May 9, 2013
05/13
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. >> steny, news reports that the house republicans are seeking as part of a debt ceiling deal. people are calling it a tactical debt bill. to prioritize government debt payments. what do you make of that? what position does that put the democrats in? >> i think the democrats will be overwomeningly opposed to it. the senate is not going to take it up. and tony was with the bush economic team, says it is essentially a joke. it's not possible. others say it will be a political catastrophe. clearly we call it pay china first bill. the federal government has not been a priority borrower but simply will pay all of our debts on time in full. that's what the united states continues to be. china being one of the bigest. but we may not pay our veterans, employees, we may not pay other benefits. we may not pay small business people doing business with the federal deposit. that doesn't make my sense for the weightiest nation on the face of the earth. i think it is simply a figure leaf for republicans deeply divided how they want to go forward, as you have seen. and i think that this bill i
. >> steny, news reports that the house republicans are seeking as part of a debt ceiling deal. people are calling it a tactical debt bill. to prioritize government debt payments. what do you make of that? what position does that put the democrats in? >> i think the democrats will be overwomeningly opposed to it. the senate is not going to take it up. and tony was with the bush economic team, says it is essentially a joke. it's not possible. others say it will be a political...
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Jan 18, 2013
01/13
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let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to reduce the security that people expect in their old age. so we're talking about social security here. talking about mid care. we're talking about medicaid. these are foundations for the future life of most of the working population of the country at the moment. if you cut them, people will draw back in their current activity, at least to some degree. >> right. >> so you're basically saying you're going to do something which will squeeze people's living standards out in the future. it will not have any direct effect today on economic activity. except to the extent that people
let's talk about the debt ceiling. is it an overrated crisis? our next guest is from austin, texas, james galbraith, university of texas economist. also the author of "inequality and instability." we want to talk to but the debt ceiling, particularly entitlements, james. what is your sense, if today and now is not the time to cut entitlements, when is the time to cut entitlements? >> i don't think it's a good idea, from the standpoint of the future of the american economy to...
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Jan 10, 2013
01/13
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you'll have the debt ceiling. until and unless that becomes a grand solution, a longer term solution where they seem like they're working together, it's very difficult to look at longs abdomen being a quarter or a half proposition. >> also looking at more volatility on the debt ceiling or, what did we just experience with the fiscal cliff? >> i know, i think it's going to be more from a price perspective. but i don't actually expect the vix to spike. the strange thing about the vix is you have to get the long positions and the options to push that up. i think this is expected volatility. i think it's going to be more of a lack of volume volatility. it's going to be one of those things where people don't want to take positions coming into that. january, i think, is going to finish positive. >> bob, thanks for joining thus morning. >> thank you. >> thank you. >>> coming up, we'll have more of the story that have us plucking this morning. plus, a new way for you to rise and is shine in the morning. plus, wake-up call
you'll have the debt ceiling. until and unless that becomes a grand solution, a longer term solution where they seem like they're working together, it's very difficult to look at longs abdomen being a quarter or a half proposition. >> also looking at more volatility on the debt ceiling or, what did we just experience with the fiscal cliff? >> i know, i think it's going to be more from a price perspective. but i don't actually expect the vix to spike. the strange thing about the vix...
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irs to believe that there will be some resolution debt leased cars up the debt ceiling. adam: the national retail federation numbers. a much stronger holiday sales season. we are getting indications that the consumer won't be there. walmart is pulling back a bit. >> is a little bit of a bifurcated retail sector. the luxury goods, those that are to a little bit immune to the softer economy. there will be fine. a little surprised. one thing i would say is that coming out of the second quarter the federal reserve pointed out that consumer net worth is now an all-time high. there is wealth affect associated with improving compresses and portfolios. that results in trance been the increase. adam: that the chairman of the federal reserve. we would have seen a greater gain on the market. they like it. why did that not spark something pas. >> minority opinion. you recall that even though they chose not to last time, as it turns up apparently that was a very close look. i think the marketplace ultimately would like to see the fed began to taper. at least maybe 10 billion a month,
irs to believe that there will be some resolution debt leased cars up the debt ceiling. adam: the national retail federation numbers. a much stronger holiday sales season. we are getting indications that the consumer won't be there. walmart is pulling back a bit. >> is a little bit of a bifurcated retail sector. the luxury goods, those that are to a little bit immune to the softer economy. there will be fine. a little surprised. one thing i would say is that coming out of the second...
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Jan 15, 2013
01/13
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ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand -- production, rather. that sends the market up. when i got up this morning and looked at the screen, platinum made that 3% today. i looked at the metal sector and looked at things that were undervalued. i think gold short term will benefit but long term i think platinum is going to be a better bet. if platinum stays higher, than going through the latter part of the year, that could signal a change in the market sentiment. gold is your fear and platinum is going to be demand in manufacturing. that could signal a change but not yet. i think
ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand --...
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Jan 22, 2013
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Mar 19, 2013
03/13
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you can see the past two surveys, nearly 90% of respondents think congress will raise the debt ceiling every time it's reached. let's move on to what wall street thinks -- will they consider with the sequester? yes. will it consider and change the makeup. 33% say yes. should it increase spending cuts? 21 #% said. bottom line, only 17% a year think congress should reduce the spending cuts. if you add all of this up together, what you find is a large number who believe congress should keep the plan but they want a little flexibility. how urgent is it? 80% of the march survey said congress should urgently enact a sustainable deficit plan. that has come down to 67% with 25% agreeing that it needs a little more time. that group of respondents, 54 of them market participants say that they should be reducing the deficit. here's some of the can comments. the only thing the economy has to fear is washington itself. an interesting comment. the public wants less cutting of the budget. they are seen as positive. the boost of confidence has a greater positive gdp impact than the the negative gdp im
you can see the past two surveys, nearly 90% of respondents think congress will raise the debt ceiling every time it's reached. let's move on to what wall street thinks -- will they consider with the sequester? yes. will it consider and change the makeup. 33% say yes. should it increase spending cuts? 21 #% said. bottom line, only 17% a year think congress should reduce the spending cuts. if you add all of this up together, what you find is a large number who believe congress should keep the...
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Sep 18, 2013
09/13
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if there is a budget package that includes the debt ceiling vote, it's not the debt ceiling that is driving the negotiations, it's stick into the budget negotiations because if you're going to take a bunch of votes any way, you might as well go ahead and stick that in there. you have never seen in the history of the united states, the debt ceiling or the threat of not raising the debt ceiling being youzed to extort a president or a governing party. and trying to force issues that have nothing to do with budget and have nothing to do with the debt. so, here's where we are and i think this is the bottom line and i want to make sure everybody's clear. i have presented a budget that deals with, continues to deal with our deficit effectively. i am prepared to work with democrats and republicans to deal with our long-term entitlement issues. and i am prepared to look at priorities that the republicans think we should be promoting and priorities they think we should be, we shouldn't be promoting, so i'm happy to negotiate with them around the budget. just as i've done in the past. what i will not
if there is a budget package that includes the debt ceiling vote, it's not the debt ceiling that is driving the negotiations, it's stick into the budget negotiations because if you're going to take a bunch of votes any way, you might as well go ahead and stick that in there. you have never seen in the history of the united states, the debt ceiling or the threat of not raising the debt ceiling being youzed to extort a president or a governing party. and trying to force issues that have nothing...
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Apr 10, 2013
04/13
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i think it all depends on what kind of pressure builds up before they get to the debt ceiling increase that will happen probably august 1st. >> he would take that off the table if the republicans don't do the investments in the revenue, right? >> that's what he says, yeah. >> jared, it's not like -- >> when he says it's not a menu they can pick and choose from, he means it. >> which means it's going -- you're offering things you're not going to have to deliver on. >> there's this word compromise that doesn't seem to be -- >> nussel's ready. he's got this new job. >> i'm not ready if they're going to do some kind of back room back deal that doesn't work. >> all right, jared, thanks. jim, thanks. good to see you guys. hnchts investo >>> investors flocking to the marijuana market. why this budding business could be bigger than the corn market. a wealth of etf knowledge tdd: 1-800-345-2550 all in one place. tdd: 1-800-345-2550 introducing schwab etf onesource.. tdd: 1-800-345-2550 it's one source with the most commission-free etfs. tdd: 1-800-345-2550 one source with etfs from leading prov
i think it all depends on what kind of pressure builds up before they get to the debt ceiling increase that will happen probably august 1st. >> he would take that off the table if the republicans don't do the investments in the revenue, right? >> that's what he says, yeah. >> jared, it's not like -- >> when he says it's not a menu they can pick and choose from, he means it. >> which means it's going -- you're offering things you're not going to have to deliver on....
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Oct 8, 2013
10/13
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ceiling debate and debt downgrade. happens on a friday, on the following monday, the dow falls more than 600 points. that should tell you it's about the debt crisis, right? it's not the whole story. because while the u.s. market was volatile, take a look at what was happening in the italian stock market. so from august 1st to august 8th, august 10th, the italian stock market fell roughly 4,000 points. august 1st, before the downgrade, 700 points, can you bring that back for me? can you bring back the full screen, please? i can read through it. august 1st, 713 points, 447 points, 266 points. august 4th, 877 points. next page, holy smokes, 376 points on august 8th, 1,045 points on august 10th. >> because of stuff happening in italy. not because of things happening here. >> right. because as we were talking about a downgrade, look at this headline from the telegraph that occurred at the time. it said the ecb jean claud throws italy and spain to the wolves. remember, their interest rates were approaching 7%. they were begg
ceiling debate and debt downgrade. happens on a friday, on the following monday, the dow falls more than 600 points. that should tell you it's about the debt crisis, right? it's not the whole story. because while the u.s. market was volatile, take a look at what was happening in the italian stock market. so from august 1st to august 8th, august 10th, the italian stock market fell roughly 4,000 points. august 1st, before the downgrade, 700 points, can you bring that back for me? can you bring...
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Oct 10, 2013
10/13
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house republican leaders offered a temporary incrrase in the debt ceiling. in exchange for negotiations on what they are calling the longer term debt drivers. offering to build -- bring a bill to the floor that would raise the debt ceiling for approximately six weeks that would not end the shutdown. white house spokesman signaled earlier in the day that the president would accept this offer. but after meeting with the president himself, senate majority leader harry reid said no negotiations on the budget would take place before the house passed a clean government funding bill. wall street ignoring their rhetoric on the way to the biggest one day point gain. they presented the debt ceiling deal to the president just moments ago wrapping up their meeting. correspondent ed henry on the scene with the report. >> reporter: for the first time in this standoff, finally some glimmers of progress. senate democrats met for an hour-and-a-half the president obama and the marist to suggest they are inching closer to a deal with house republicans. >> we will again is clea
house republican leaders offered a temporary incrrase in the debt ceiling. in exchange for negotiations on what they are calling the longer term debt drivers. offering to build -- bring a bill to the floor that would raise the debt ceiling for approximately six weeks that would not end the shutdown. white house spokesman signaled earlier in the day that the president would accept this offer. but after meeting with the president himself, senate majority leader harry reid said no negotiations on...
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Jan 4, 2013
01/13
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the debt ceiling debate, not the east of these. you want to buy, but if we actually have real press pressure where the republicans in congress, you could see reductions in spending. that in turn could put pressure on the precious metals. i think that's one point. another point, silver is looking a bit pricey relative to gold. there's usually a relationship close to 60 times. right now we're stretched in that standpoint. i think if we could see it normalize to where gold s that's a 6% pullback as well. the other thing, the long-term chart shows you how cheap options are. >> he's buying a put. let's open the playbook because it's good to see how it works. when you buy a put, you want the stock to go down by more than the cost of the trade. that's where you see profits. above that level, you'll see losses. >> march 28 puts cost 85 cents, buy outright, look for opportunities to spread them. you had the fed telling you they might be running back qe, good time to be bearish in silver. i wouldn't look to spread it until you got a move. ju
the debt ceiling debate, not the east of these. you want to buy, but if we actually have real press pressure where the republicans in congress, you could see reductions in spending. that in turn could put pressure on the precious metals. i think that's one point. another point, silver is looking a bit pricey relative to gold. there's usually a relationship close to 60 times. right now we're stretched in that standpoint. i think if we could see it normalize to where gold s that's a 6% pullback...
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Sep 27, 2013
09/13
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the think the president's not going to bargain over the debt ceiling. i think we could have a shutdown. after the 20-day shutdown under clinton, which caused huge economic and political fallout, republicans don't want to -- >> but had a bunch under reagan. >> but -- >> we had two under clinton. those were partial, by the way. >> but the president has to lead the discussion. he needs to be in the middle of this talking to everybody. >> he is. but he's not going to bargain on the debt ceiling and he shouldn't. >> why do you say he's talking to everybody? >> i think they're talking all the time. >> you read in the papers that there are no talks going on sometimes. >> but they're talking to republicans all the time. >> happy birthday to your kids. >> happy birthday. >> see you guys on monday. >> make sure you join us. "squawk on the street"'s next! ♪ there it is, whoop, there it is ♪ >>> all right, good friday morning. welcome to "squawk on the street." aim carl quintanilla with kelly evans and david faber. jim cramer is off today. the fiscal show down
the think the president's not going to bargain over the debt ceiling. i think we could have a shutdown. after the 20-day shutdown under clinton, which caused huge economic and political fallout, republicans don't want to -- >> but had a bunch under reagan. >> but -- >> we had two under clinton. those were partial, by the way. >> but the president has to lead the discussion. he needs to be in the middle of this talking to everybody. >> he is. but he's not going to...
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Aug 28, 2013
08/13
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ceiling, not paying our debts. the biggest problem that we have, that conservatives have right now is not that they don't have options, the problem is that they are not actually using the right basic philosophy. what they are trying to do again, not with standing the policy battles, fighting against things, this is what americans are really not supporting very much. they are fighting against debt, deficits, regulation, the size of government and i'm down with that. i mean joe, you and i are on the same page what's going on in american public policy and the size of government. however, until conservatives and republican conservatives can change their basic philosophy against not to fight against things but to fight for people, they are not going to have the right basic orientation to take the case to the american public and start to win again. >> so what -- you wish would happen and what does happen -- what do you think, how is this going to play out? so probably this time they are going to listen and realize that i
ceiling, not paying our debts. the biggest problem that we have, that conservatives have right now is not that they don't have options, the problem is that they are not actually using the right basic philosophy. what they are trying to do again, not with standing the policy battles, fighting against things, this is what americans are really not supporting very much. they are fighting against debt, deficits, regulation, the size of government and i'm down with that. i mean joe, you and i are on...
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Sep 30, 2013
09/13
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we don't raise the debt ceiling. that's the law. >> you would rather not -- >> look at this, i'm giving you an example. you're saying it's the law, you know, you have -- what we're saying is there are provisions here that have to be changed. >> okay. a simple question, though, if the senate -- if you could just let me talk for one second. >> sure. >> if the senate were to send you a bill today that funds the government for a week, ten days, clean cr from the senate, would you in the -- would you support passing that so we can continue to talk about obama care. what else you want to talk about without shutting down the government and impacting markets in the economy? >> we were very disappointed they decided to take the weekend off and -- >> i understand we can play blame game. >> well, but -- you're talking about hypotheticals. we've been trying to get them. >> it's not the hypothetical. it's very possible you will get a clean version of a continuing resolution. would you sign that so you can continue that conversati
we don't raise the debt ceiling. that's the law. >> you would rather not -- >> look at this, i'm giving you an example. you're saying it's the law, you know, you have -- what we're saying is there are provisions here that have to be changed. >> okay. a simple question, though, if the senate -- if you could just let me talk for one second. >> sure. >> if the senate were to send you a bill today that funds the government for a week, ten days, clean cr from the...
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Oct 18, 2013
10/13
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debt ceiling debate. there's been a lot of chatter about that and how that could impact sentiment in the united states and that, of course, affects everybody here in china, especially in the manufacturing sector. now, the government here did weigh in on this. again on an official level, very happy with the resolution in the united states. but on an unofficial level, the state press was blasting washington. there was one editorial that said that the deal really just pro longs what it calls the fuse of the u.s. debt bomb. also, there is a chinese ratings agency that downgraded the united states because of all the politicking. this is not a household name in the united states, barely a household name over here. but at the same time, it does show a signal. send a signal of how china is feeling about the deal and the politics getting in the way of the safety of their investments. guys. >> thank you so much, eunice yoon. andrew. >> from china to washington, we're really talking about washington today rather tha
debt ceiling debate. there's been a lot of chatter about that and how that could impact sentiment in the united states and that, of course, affects everybody here in china, especially in the manufacturing sector. now, the government here did weigh in on this. again on an official level, very happy with the resolution in the united states. but on an unofficial level, the state press was blasting washington. there was one editorial that said that the deal really just pro longs what it calls the...
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Sep 20, 2013
09/13
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every debt ceiling issue passed since 1980 -- 70% of the government is automatically funded. if you actually believe in the power of the purse, you're going to have to have a debt ceiling vote. that's where the power of the purse comes into play. sorry, mr. president, you may not want to negotiate on it but that's just the way the constitution works right now. >> do you think it's how the constitution should work? >> there's lots of things we might want to do differently. the problem comes from the 1974 budget act. that's a conversation for another day. by taking most of the spending out of the appropriations process, you have taken away the classic power of the purse. if you've taken that away, the only chance you have to vote no is at the debt ceiling. >> thank god it works that way is where i'm coming from. >> it's not an elegant way to have it work. >> you go to do something. >> look at what's going to happen with coal and utility. there's plenty of things you can do without congress having a say, which he's doing full force. at least in this case you actually have to get
every debt ceiling issue passed since 1980 -- 70% of the government is automatically funded. if you actually believe in the power of the purse, you're going to have to have a debt ceiling vote. that's where the power of the purse comes into play. sorry, mr. president, you may not want to negotiate on it but that's just the way the constitution works right now. >> do you think it's how the constitution should work? >> there's lots of things we might want to do differently. the...
WHUT (Howard University Television)
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Oct 20, 2013
10/13
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ceiling, we will default on our debt. we won't. we'll continue to pay our interest, we'll continue to redeem bonds and we'll issue new bonds to replace those. so, it's not entirely accurate. >> we're never, ever, ever, ever. it's implausible that we won't make out interest payments. you have a $3.1 trillion we're going to take in in tax revenues, we're going to spend about $3.7 trillion? so, using language like, "well, we're going to default." has the left decided that they're hungry to scare the markets? hungry to scare the world debt markets? and is this how you leverage politics? >> what they're saying here is, well, the administration could always decide, that's a question that the administration would answer, "well, it's not so easy," but they would say, the administration can always decide to use its money to pay its interest, to pay the interest, and redemption is not a problem. i agree with that, they can pay the interest. and then they will default on something else. and -- >> social security and medicare. >> soc
ceiling, we will default on our debt. we won't. we'll continue to pay our interest, we'll continue to redeem bonds and we'll issue new bonds to replace those. so, it's not entirely accurate. >> we're never, ever, ever, ever. it's implausible that we won't make out interest payments. you have a $3.1 trillion we're going to take in in tax revenues, we're going to spend about $3.7 trillion? so, using language like, "well, we're going to default." has the left decided that they're...
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Oct 29, 2013
10/13
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or are we headed for another debt ceiling doomsday? daily analysis and fresh ideas starting at 6:00 a.m. eastern time daily. watch "squawk box" and tell washington to rise above and win us back. only on cnbc. bny mellon combines investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. afghanistan in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. becau
or are we headed for another debt ceiling doomsday? daily analysis and fresh ideas starting at 6:00 a.m. eastern time daily. watch "squawk box" and tell washington to rise above and win us back. only on cnbc. bny mellon combines investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested...
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Feb 5, 2013
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president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and
president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally...
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Jan 7, 2013
01/13
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or could the debt ceiling derail your view on things? >> you know, i think we've been desensitizing, you know, all year long a little bit, joe, to some of these armageddon ending stories. last year was interesting. we had as many issues on the table, a spring swing in the economy. a slowdown landing in china, uncertain election, the fiscal cliff and yet the vix index hardly ever got above 20 during the year. whereas in 2010 and 2011 it spiked up to 45 during those panics where we just had an all-out stock market panic. so, i think every time we get through one of these, we desensitize more to it. i think the market also react less to the debt ceiling than they did to the fiscal cliff. >> okay. >> we get further and further away from the financial crisis and housing improves and the consumer seems a little bit better. unemployment gets a little bit better. people aren't as worried about losing their jobs. all of those things give it a firmer tone. >> i think so. i think that people are kind of starting to settle down in the idea that this
or could the debt ceiling derail your view on things? >> you know, i think we've been desensitizing, you know, all year long a little bit, joe, to some of these armageddon ending stories. last year was interesting. we had as many issues on the table, a spring swing in the economy. a slowdown landing in china, uncertain election, the fiscal cliff and yet the vix index hardly ever got above 20 during the year. whereas in 2010 and 2011 it spiked up to 45 during those panics where we just had...
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May 10, 2013
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we will hit the technical debt ceiling in a matter of days. but he went on to say there's actually time here for -- until we actually get the effective limit. >> we're not going to hit the effective deadline until at least labor day. the statutory debt limit will be reached in just a few days when it expires may 18th. but pause of the extraordinary measures that are available and the cash flow that we now can predict, it will be not until at least after labor day. >>> now, he did urge congress not to wait until labor day to raise the the debt ceiling on other issues. he said on he would not comment on the dow hitting 15,000. but when he mentioned the risks monitored by the oversight committee did not mention stocks as among those risks being watched. on health care he rejected criticism that we have been talking about on "squawk box" that the health care act is hurting job growth. he advised the economic counselors to look at it. he said sit not as strong in the areas where there is expensive insurance. finally, on housing, lew said it's a mat
we will hit the technical debt ceiling in a matter of days. but he went on to say there's actually time here for -- until we actually get the effective limit. >> we're not going to hit the effective deadline until at least labor day. the statutory debt limit will be reached in just a few days when it expires may 18th. but pause of the extraordinary measures that are available and the cash flow that we now can predict, it will be not until at least after labor day. >>> now, he did...